Pending Homes Sales Rose Slightly in July

According to The Seattle Times, pending home sales rose 0.5% in July, thanks to "steady job growth coupled with low mortgage rates." And "as the recovery from the Great Recession enters its seventh year, more Americans have rebuilt their savings, increased their home equity and returned to the real estate market."

Further, while "completed sales of existing homes increase 2 percent in July," but there is also "a mismatch between rising demand and limited supplies of homes on the market" because "sales have increased 9.6 percent over the past 12 months, while the number of listings has declined 4.7 percent." High demand coupled with low inventory means that mortgage rates are sure to rise, and provides another indication that now is the time to discover #NoPlaceLikeOwn.

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